Bond International Software

Contract momentum continues apace at staffing software specialist Bond, which has now signed up outsourced recruitment giant Alexander Mann Solutions (AMS) to its flagship ‘Adapt’ software product.

Under the terms of this latest tie-up, AMS will use Adapt to better manage its business with three main clients, namely Vodafone, Zurich Insurance and Siemens IT Solutions and Services (UK and Germany). By using the Adapt technology, which helps users including Adecco, Hays and Manpower grow sales and improve profits, AMS will be able to manage more than 7,000 job candidates per year.

UK-headquartered but with offices spanning the US, Australia, South Africa and Hong Kong, Bond has cheered investors with a number of contract wins over the summer months, including deals with HR consultant Penna and The Synergy Group. Furthermore, its strong product portfolio and high recurring revenue base are enabling it to shrug off the worst effects of the downturn.

Bond’s shares, which had already risen from their 52-week low of 32p, edged up a further 4.5p or 6% to 82.5p on the AMS news. Based on forecast pre-tax profits and earnings of £4.1m and 8.3p for December 2009 respectively, the dividend paying shares trade on an undemanding prospective multiple of less than ten times and remain good value. Buy/Hold.